Some EU Member States Push for Bloc-Wide Gas Price Cap

Some EU Member States Push for Bloc-Wide Gas Price Cap

A number of EU nations are urging Brussels to present proposals this week for a natural gas price cap that would apply to the entire EU, according to a letter seen by Reuters.

The EU proposed a package of emergency measures to tackle soaring energy prices earlier this month, but has steered clear of a gas price cap, an idea which has split the bloc’s 27 member states.

The EU did not include a gas price ceiling in its package of emergency measures to combat rising energy prices.

Following a meeting of EU energy ministers on Friday, countries in favor increased their pressure on Brussels by writing to the European Commission and requesting that it submit recommendations on a gas price cap for consideration, along with a legislative proposal as soon as feasible.

“We acknowledge the efforts made by the Commission and the measures it has put forward to face the crisis. But we have yet to tackle the most serious problem of all: the wholesale price of natural gas,” said the letter addressed to Energy Commissioner Kadri Simson and seen by Reuters.

The document was signed by ministers from 15 countries: Belgium, Bulgaria, Croatia, France, Greece, Italy, Latvia, Lithuania, Malta, Poland, Portugal, Romania, Slovakia, Slovenia and Spain.

A price cap on all wholesale gas sales was demanded in the letter that Reuters had previously seen a draft of.

In addition to helping countries control “untenable inflationary pressures” that are affecting consumers and companies, it was claimed that gas price caps might be created in a way that maintains supply security.

Other nations disagree with gas price caps, casting question on whether any EU proposal would receive enough support.



Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password